Check fraud is a challenge and a serious concern for any type of business. Positive Pay helps you protect your business from check fraud by putting you in control to block non-authorized transactions from posting to your account.
How does it work?
Positive Pay allows you to inform the Bank of what checks have been written. That data is compared to checks as they are presented against your account. If we receive a check that does not match what you’ve told us, we provide an exception report and give you the control to pay or return the check.
Positive Pay may be right for you if:
- Your business issues large dollar or a high volume of checks.
- You have experienced check fraud.
- You require additional risk management.
What are the benefits of Positive Pay?
- Protects your business from check fraud.
- Blocks non-authorized transactions to your account.
- Eliminates the need to close accounts in the event of unauthorized checks clearing.